By Cristal Cody
Tupelo, Miss., May 27 - General Motors Financial of Canada Ltd. priced C$400 million of 3.25% three-year senior notes at par after the market closed on Tuesday, according to an informed source.
The notes (/BB-//DBRS: BB) priced with a spread of 204 basis points over the interpolated Government of Canada bond curve.
BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and TD Securities Inc. were the lead managers.
The notes are guaranteed by parent company General Motors Financial Co., Inc.
Proceeds will be used for general corporate purposes.
The parent company is based in Fort Worth.
| Issuer: | General Motors Financial of Canada Ltd.
|
| Guarantor: | General Motors Financial Co. Inc.
|
| Amount: | C$400 million
|
| Maturity: | May 30, 2017
|
| Securities: | Senior notes
|
| Bookrunners: | BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and TD Securities Inc.
|
| Coupon: | 3.25%
|
| Price: | Par
|
| Yield: | 3.25%
|
| Spread: | 204 bps over interpolated Government of Canada bond curve
|
| Pricing date: | May 27
|
| Settlement date: | May 30
|
| Ratings: | Standard & Poor's: BB-
|
| DBRS: BB
|
| Distribution: | Canada
|
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